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Next week on the stock market

What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week.

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

Aarin Chiekrie
Equity Analyst

Published on 10 November 2023

This article is more than 6 months old

It was correct at the time of publishing. Our views and any references to tax, investment and pension rules may have changed since then.

What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week:

BAE's costs are in the spotlight
Royal Mail recovery takes centre stage for International Distribution Services
United Utilities hoping to keep the revenue taps at full flow

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Among those currently scheduled to release results next week:

*Events on which we will be updating investors

13-Nov
BAE Systems*	Trading Statement
British Land Company*	Half Year Results
Kainos Group	Half Year Results

14-Nov
Babcock International Group	Half Year Results
Convatec	Trading Statement
DCC	Half Year Results
Grafton Group	Trading Statement
Imperial Brands*	Full Year Results
Informa	Trading Statement
Land Securities Group	Half Year Results
Oxford Instruments	Half Year Results
Vodafone*	Half Year Results

15-Nov
Experian*	Half Year Results
Intermediate Capital Group	Half Year Results
Ninety One	Half Year Results
SSE*	Half Year Results

16-Nov
Alibaba*	Q2 Results
Assura	Half Year Results
Aviva*	Q3 Trading Statement
Burberry*	Half Year Results
Close Brothers	Q1 Trading Statement
Great Portland Estates	Half Year Results
Halma*	Half Year Results
International Distribution Services*	Half Year Results
Investec	Half Year Results
Liontrust Asset Management	Half Year Results
Melrose*	Q3 Trading Statement
Pershing Square	Q3 Results
Premier Foods	Q2 Results
QinetiQ Group	Half Year Results
Smiths Group	Q1 Trading Statement
Spirax-Sarco Engineering	Q3 Trading Statement
Syncona	Half Year Results
United Utilities*	Half Year Results

17-Nov
No FTSE 350 Reporters

BAE Systems – Sophie Lund-Yates, Lead Equity Analyst

Next week, investors could be treated to some more details on plans for new addition Ball Aerospace. The deal demanded a hefty price tag, but it also opens up some exciting growth areas, including heightened exposure to intelligence services.

Underneath the noise, we’d like to see how overall trading’s looking – especially in the order book. We’re optimistic that things will be ticking along given the more resilient nature of having developed-world governments as core customers. Of course, there are no guarantees.

One thing to watch will be the outlook for costs. The long-term nature of many contracts means that the related risks and costs can change over time. Fluctuating energy costs in particular are worth attention.

See the BAE Systems share price, charts and our latest view

International Distribution Services – Matt Britzman, Equity Analyst

Now strike action’s in the rear view mirror for the Royal Mail owner, focus can now firmly turn to recapturing lost revenue. Markets will be eagerly awaiting further details as the Royal Mail recovery story takes centre stage. But the lingering pain is expected to be felt in next week’s half-year results. Back in June management guided to a first half operating loss at the division, with improvements coming over the second.

At the group level, the international business, GLS, is propping up performance and with the former GLS CEO now taking the reins of the entire group, there are some positive developments. Next up is filling the empty Royal Mail CEO seat and returning Royal Mail to profitability, all while maintaining progress at GLS. If that sounds like a lot, that's because it is. There are still substantial hurdles to overcome.

See the International Distribution Services share price, charts and our latest view

United Utilities – Aarin Chiekrie, Equity Analyst

United Utilities recently unveiled its plans for the next regulatory period. The group is planning to invest a mammoth £13.7bn into cleaning up its act across 2025-2030, which it even describes as ambitious and stretching. To fund these investment plans, United Utilities will need to raise around £5.2bn of cash. The group’s hoping this can be done via debt, but this would push debt levels towards the top of their target range and could put pressure on future dividend payments, which are never guaranteed. We’ll be keeping a close eye on the balance sheet health in next week’s results.

Nearer term, we also heard that the group was trading in line with previous expectations, with markets expecting first-half revenue to rise 7.9% to around £992mn. We’ll also be looking for any early progress on reducing the amount of sewage being spilt into rivers and seas – something which the regulators have the power to impose huge fines for.

See the United Utilities share price, charts and our latest view

Unless otherwise stated estimates are a consensus of analyst forecasts provided by Refinitiv. These estimates are not a reliable indicator of future performance. Past performance is not a guide to the future. Investments rise and fall in value so investors could make a loss.

This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. Non-independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place (including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing. Please see our full non-independent research disclosure for more information.

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